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BASIS OF PRESENTATION | 6 Months Ended
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Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The accompanying unaudited consolidated interim financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all disclosures required by accounting principles generally accepted in the United States of America for complete presentation of financial statements. In the opinion of management, the consolidated financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the consolidated statements of condition of Camden National Corporation (the "Company") as of June 30, 2025 and December 31, 2024, the consolidated statements of income for the three and six months ended June 30, 2025 and 2024, the consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2025 and 2024, the consolidated statements of changes in shareholders' equity for the three and six months ended June 30, 2025 and 2024, and the consolidated statements of cash flows for the six months ended June 30, 2025 and 2024. The consolidated financial statements include the accounts of the Company and Camden National Bank (the "Bank"), a wholly-owned subsidiary of the Company (which includes the consolidated accounts of Healthcare Professional Funding Corporation ("HPFC") and Property A, Inc.). All intercompany accounts and transactions have been eliminated in consolidation. Assets held by the Bank in a fiduciary capacity, through Camden National Wealth Management, a division of the Bank, are not assets of the Company and, therefore, are not included in the consolidated statements of condition. The Company also owns 100% of the common stock of Camden Capital Trust A (“CCTA”), Union Bankshares Capital Trust I (“UBCT”), Northway Capital Trust III (“NCT III”) and Northway Capital Trust IV (“NCT IV”). These entities are unconsolidated subsidiaries of the Company. Certain reclassifications may have been made to prior period amounts to conform to the current period presentation. Any such reclassifications did not impact net income or shareholders' equity as previously reported. Net income reported for the three and six months ended June 30, 2025, is not necessarily indicative of the results that may be expected for the full year. The information in this report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024. The acronyms, abbreviations and definitions identified below are used throughout this Form 10-Q, including Part I. "Financial Information" and Part II. "Management's Discussion and Analysis of Financial Condition and Results of Operations." The following is provided to aid the reader and provide a reference page when reviewing these sections of the Form 10-Q.
Acronym |  | Description |  | Acronym |  | Description
AFS: |  | Available-For-Sale |  | GAAP: |  | Generally Accepted Accounting Principles in the United States
ALCO: |  | Asset/Liability Committee |  | GDP: |  | Gross Domestic Product
ACL: |  | Allowance for Credit Losses |  | HTM: |  | Held-To-Maturity
AOCI: |  | Accumulated Other Comprehensive Income (Loss) |  | Management ALCO: |  | Management Asset/Liability Committee
ASC: |  | Accounting Standards Codification |  | MBS: |  | Mortgage-Backed Security
ASU: |  | Accounting Standards Update |  | N/A: |  | Not Applicable
Bank: |  | Camden National Bank, a wholly-owned subsidiary of Camden National Corporation |  | NCT III: |  | Northway Capital Trust III, an unconsolidated entity formed by Northway Financial, Inc., acquired by the Company on January 2, 2025
BOLI: |  | Bank-owned life insurance |  | NCT IV: |  | Northway Capital Trust IV, an unconsolidated entity formed by Northway Financial, Inc., acquired by the Company on January 2, 2025
Board ALCO: |  | Board of Directors' Asset/Liability Committee |  | Northway: |  | Northway Financial, Inc., the bank holding company of Northway Bank, acquired by the Company on January 2, 2025
CCTA: |  | Camden Capital Trust A, an unconsolidated entity formed by the Company |  | N.M.: |  | Not Meaningful
BTFP: |  | Bank Term Funding Program, introduced by the Federal Reserve Bank in March 2023 |  | OCC: |  | Office of the Comptroller of the Currency
CD: |  | Certificate of Deposits |  | OCI: |  | Other Comprehensive Income (Loss)
Company: |  | Camden National Corporation |  | OREO: |  | Other Real Estate Owned
CMO: |  | Collateralized Mortgage Obligation |  | PCD: |  | Purchase Credit Deteriorated
EPS: |  | Earnings Per Share |  | SERP: |  | Supplemental Executive Retirement Plans
FASB: |  | Financial Accounting Standards Board |  | SOFR: |  | Secured Overnight Financing Rate
FDIC: |  | Federal Deposit Insurance Corporation |  | TDR: |  | Troubled-Debt Restructured Loan
FHLBB: |  | Federal Home Loan Bank of Boston |  | UBCT: |  | Union Bankshares Capital Trust I, an unconsolidated entity formed by Union Bankshares Company that was subsequently acquired by the Company
FRB: |  | Federal Reserve System Board of Governors |  | U.S.: |  | United States of America

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